KUALA LUMPUR (Sept 8): 7-Eleven Malaysia Holdings Bhd's growth prospects remain cautious while trading at an expensive price-earnings ratio (PER), said CIMB Equity Research, following the analyst briefing of the company's second quarter earnings results. Despite so, 7-Eleven Malaysia registered four consecutive quarters of negative earnings per share (EPS) growth, based on a y-o-y data comparison. Meanwhile, it is worth noting that 7-Eleven Malaysia has been trading at a rather steady 52-week range of RM1.12 to RM1.94, possibly owing to support from changes in its shareholdings over the past months. “Bison's share price has run ahead of its fundamentals in the short-run, and we are concerned of a share price overhang from the potential placement”, warned Wong in a separate note. Latest data in April shows Bison operates 325 outlets, while 7-Eleven Malaysia has 2,122 operating stores nationwide.

Source: The Edge Markets September 08, 2017 06:11 UTC